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Eurasia: audit of the Sovereign Fund shows commitment against corruption

The consultant Eurasia considered that the opening of a public tender for an audit of the Sovereign Fund of Angola shows the President's commitment to fight corruption and guarantee the source of financing.

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"The President of Angola remains committed to moving forward with the fight against corruption", reads an analysis of the authorization given by João Lourenço to open a tender for the purchase of specialized services from an independent auditor to carry out the audit of the accounts of the Sovereign Fund of Angola.

In the comment, sent to clients and to which Lusa had access, the consultants' analysts write that "the audit authorization, which may result in more allegations of corruption, intends to deepen the anti-corruption campaign and ensure that the fund remains a credible source of funding for government projects ".

The Angola Sovereign Fund, analysts recall, "has been involved in controversy since Lourenço removed the son of former President José Eduardo dos Santos in 2018, following charges of fraud."

The Fund, they add, "is being used to guarantee short-term financing needs, especially to finance the Integrated Municipal Intervention Plan, which aims to improve rural infrastructure".

According to a presidential order published in Diário da República on 19 February, the expense is authorized to open a limited invitation to tender to audit the financial statements of the Sovereign Fund in the current financial year.

The auditor's appointment will be made by the President of the Republic, according to the document.

The Angola Sovereign Fund (FSA) obtained in 2019, the year to which the last financial information is reported, a net result of 234 million dollars after two years of losses.

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